8,106 Shares in Chevron Corporation $CVX Acquired by Demars Financial Group LLC

Demars Financial Group LLC purchased a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,106 shares of the oil and gas company’s stock, valued at approximately $1,161,000. Chevron accounts for about 0.4% of Demars Financial Group LLC’s holdings, making the stock its 21st biggest holding.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron during the first quarter worth $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron during the first quarter worth about $39,000. Investment Management Corp VA ADV lifted its position in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in Chevron during the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Wells Fargo & Company began coverage on shares of Chevron in a research report on Friday. They issued an “overweight” rating and a $190.00 price objective for the company. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Melius assumed coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $165.25.

Chevron Stock Up 0.9%

Shares of NYSE CVX opened at $153.12 on Monday. The stock has a market capitalization of $264.58 billion, a P/E ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm’s 50 day simple moving average is $156.03 and its two-hundred day simple moving average is $147.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.